Island Federal Credit Union Provides $7M Acquisition Loan For Retail Property In Bushwick

The property involved in this transaction is a retail asset located at 1291 Broadway in the Bushwick market, encompassing 16,084 square feet. The loan amount for this acquisition transaction is set at $7,000,000. The terms of the loan include a loan-to-value ratio of 78%, an interest rate of 4.25%, a seven-year term, and it carries no pre-payment penalty.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $7,000,000
• Address: 1291 Broadway
• Market: Bushwick
• Asset Size: 16,084 SF
• Lender: Island Federal Credit Union
• Landlord: Bryan Murphy
• Mortgage Brokers: Lynn Marcello & Nicole Schmidt - B6 Real Estate Advisors
• Seller's Representative: DJ Johnston - B6 Real Estate Advisors
• Loan Type: Acquisition
• Loan Terms: 78% LTV, 4.25%, 7 Year Term, No Pre-Payment Penalty

The transaction involved key individuals and companies, notably the representation by Lynn Marcello and Nicole Schmidt from B6 Real Estate Advisors as mortgage brokers, and DJ Johnston from the same agency as the seller's representative. The lender for this transaction was Island Federal Credit Union, with Bryan Murphy identified as the landlord.